Marshall Wace LLP Sells 295,657 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Marshall Wace LLP cut its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 93.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,716 shares of the company's stock after selling 295,657 shares during the period. Marshall Wace LLP's holdings in Protagonist Therapeutics were worth $761,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PTGX. FNY Investment Advisers LLC acquired a new stake in Protagonist Therapeutics during the fourth quarter worth $38,000. Covestor Ltd boosted its position in shares of Protagonist Therapeutics by 5,200.0% during the 4th quarter. Covestor Ltd now owns 1,643 shares of the company's stock valued at $63,000 after acquiring an additional 1,612 shares in the last quarter. KBC Group NV boosted its position in shares of Protagonist Therapeutics by 54.4% during the 4th quarter. KBC Group NV now owns 2,093 shares of the company's stock valued at $81,000 after acquiring an additional 737 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Protagonist Therapeutics by 10.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company's stock valued at $121,000 after acquiring an additional 295 shares during the period. Finally, Cibc World Markets Corp acquired a new position in Protagonist Therapeutics in the fourth quarter worth about $211,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Protagonist Therapeutics Stock Up 2.6 %

PTGX stock traded up $1.08 during midday trading on Wednesday, reaching $43.09. The company's stock had a trading volume of 1,360,357 shares, compared to its average volume of 868,864. The business's 50-day simple moving average is $46.76 and its 200-day simple moving average is $42.77. The stock has a market cap of $2.67 billion, a PE ratio of 16.20 and a beta of 2.65. Protagonist Therapeutics, Inc. has a 52 week low of $25.75 and a 52 week high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.31. The firm had revenue of $28.32 million for the quarter, compared to analyst estimates of $30.44 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. As a group, equities analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

PTGX has been the topic of several analyst reports. HC Wainwright reiterated a "buy" rating and issued a $80.00 price objective on shares of Protagonist Therapeutics in a research note on Thursday, April 10th. JPMorgan Chase & Co. increased their price objective on Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. JMP Securities reaffirmed a "market outperform" rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a report on Friday, February 7th. Wedbush restated an "outperform" rating and issued a $70.00 price target on shares of Protagonist Therapeutics in a research report on Friday, March 28th. Finally, BTIG Research set a $73.00 price objective on Protagonist Therapeutics in a research note on Monday, March 3rd. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Protagonist Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $65.44.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, CFO Asif Ali sold 1,756 shares of Protagonist Therapeutics stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $46.00, for a total value of $80,776.00. Following the transaction, the chief financial officer now owns 61,065 shares of the company's stock, valued at approximately $2,808,990. The trade was a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total transaction of $204,606.62. Following the sale, the chief executive officer now owns 540,260 shares in the company, valued at approximately $20,627,126.80. The trade was a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,532 shares of company stock worth $3,665,786. 5.40% of the stock is currently owned by company insiders.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc, a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.